Improved rules for managing funds

Updated 4:14 pm, Friday, February 8, 2013

The Advocate's Jan. 17 article that reported on Stamford's bond offering told half the story. The other half concerns the efforts by the Board of Finance to ensure the proceeds will be managed and used in the most effective way.

First, the board has worked with the administration to make sure that the Board of Education gets its fair share for their important capital projects. The vast majority of funds generated by the last two bond offerings were used mostly by the city, and our schools have suffered as a result. This new split will help close the gap on much-needed school maintenance and repairs.

Second, the money from the bonds will be assigned to specific capital projects, but the mayor will retain a measure of flexibility in reallocating funds as projects evolve -- subject to veto by the Board of Finance (and Board of Ed for school-related work). In prior offerings, there was either no control over the allocation of spending or little ability to respond to changing needs. This new check-and-balance approach will allow us to control, manage and adjust priorities without excessive bureaucracy.

Finally, all bond proceeds will be used for capital projects. Millions of dollars in bond premiums have been used in the past to cover short-term expenses instead of funding long-term capital projects. This new requirement will focus bond money on its intended purpose and promote common-sense principles of sound financial management.

These changes helped to reduce the interest cost of this offering to the lowest rate ever. They will help us avoid costly expense for deferred school maintenance, and, over time, improve Stamford's credit rating . . . thus saving the taxpayers money both now and into the future.

I would like to ask anyone who opposes the barbaric use of leghold traps to petition the Obama administration to end animal trapping in the United States. It only takes a moment to create an account in order to sign and send a clear message to the White House! When the petition reaches its goal of 100,000 signatures by Feb. 19, the White House must comment on it (http://1.usa.gov/12ziM44).

The petition calls on the Obama administration to: "Ban trapping in America, as all other civilized countries have already done; based on cruelty and torture."

It reads, in part: "A trapped animal is a terrified animal in unimaginable agony, exposed to predators and the elements, dehydration, starvation, and extreme psychological distress in separation from their young --finally meeting a brutal end.

"Traps are indiscriminate -- many family pets and unintended animals have suffered and died in traps. Children are always at risk for stepping into a trap, particularly since trappers want to expand their range to national parks."

For the animals, I thank you!

Natalie Jarnstedt

Greenwich

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To the editor:

I attended the hearing on gun violence in Newtown. I was compelled to attend because that same week there was a lockdown practice at my daughter's middle school. As recommended by the staff, I let her know so she could be prepared. In some cases, like areas prone to natural disasters, where there is often little to no warning, you need to practice "Duck, Cover and Hold On." Such preparation can save lives from the ravages of Mother Nature. However, no one should have to hold lockdown drills because of a gunman.

One speaker shared statistics showing that since Australia banned assault weapons in 1996, there had not been one mass shooting. Imagine if we could give that same report here in the United States in a few years. The way I see it, the Australian government took action without taking away anyone's right to own firearms; they simply prevented the general public from owning assault weapons and high-capacity magazines.